Fleet, a Portland, Oregon-based online marketplace for international logistics, closed a $4m seed funding round.
The round was led by Hunt Technology Ventures, L.P., with participation from Placid Ventures, L.P., David S. Hunt, 1517 Fund, Latam Partners, GrowthX Fund, NFQ, Telegraph Hill Capital, among others.
The company intends to use the funds to continue developing the platform, grow its team, and expand its user base of both shippers and freight forwarders. The platform will further enhance the customer experience for shippers by providing price quoting ability, financial transactions, and shipment status visibility.
Founded in 2014 by Max Lock, Fleet is an online marketplace for international logistics that enables SMEs to open quote requests, to receive, compare, and accept quotes from freight forwarding companies and other logistics service providers.
The platform aims to give both shippers and forwarders advatages compared to using traditional methods. According to the company, shippers typically save 20% on their shipping costs and receive quotes five times faster such as calling or emailing freight forwarders. For freight forwarders, Fleet provides a venue where they can connect with customers who are ready to buy and offers assistance in managing their sales and marketing efforts.